Small Business Loans for Coin-Operated Laundries and Drycleaners

Looking for small business loans for coin-operated laundries and drycleaners? The SBA may be the answer. This $147,600 coin-operated laundries and drycleaners loan was issued by a Rhode Island bank.

This small firm knew how to go about getting a business bank loan. Based in Warwick, Rhode Island, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Washington Tr Co - Westerly, based in Westerly, Rhode Island.

SBA Loan Borrower

COMPANY TYPE: COIN-OPERATED LAUNDRIES AND DRYCLEANERS
WARWICK, RI 02886

SBA Loan Lender

WASHINGTON TR CO - WESTERLY
23 BROAD ST
WESTERLY, RI 02891

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812310 - Coin-Operated Laundries and Drycleaners

Loan Approval Date

12/22/2004

Loan Approval Gross Amount

$147,600

Loan Approval from the SBA

Of the total $147,600 loan amount, the SBA guaranteed $125,460.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $147,600. How would you spend $147,600 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Direct Public Offerings

Best Banks for Small Business in Westerly, Rhode Island

Getting an SBA Loan in Rhode Island